Don’t miss out on summer sales opportunities – begin preparing your inventory and marketing strategies now
Since its launch in 2015 Amazon Prime Day has become one of the busiest sales days of the year, with massive increases in business for both Amazon and its ecommerce sellers. In 2021, consumers purchased $11.2 billion worth of goods on Amazon on Prime Day, up 7.7% from $10.4 billion in 2020. Prime Day is so influential that other retailers, including large ones such as Walmart and Target, also now offer promotions on their own websites around Prime Day.
According to market experts, Amazon Prime Day 2022 will most likely happen on July 11th or July 18th. Amazon has announced that the inventory cutoff falls on June 20th this year and they’ve notified sellers wanting to participate in Prime Day that they have until April 29 to submit a deal for consideration.
Given this short timeframe, it’s important that sellers act fast. While focusing on physical inventory and deciding on products to include is crucial, it’s important to focus on optimizing your products’ success once you’ve identified the ones you want to promote.
Make sure you know all of your products’ relevant search terms
- Identifying search terms that are the most relevant for your products is essential. Doing so allows you to optimize your bids, keywords, and ad spend in line with the most used search terms, increasing your share of voice (SOV) – i.e. how well your products surface in search results for a given search term. Noogata’s Search Term Discovery and Search Term Enrichment blocks identify the search terms that are most relevant and used the most for each of your products so that you can optimize your listings.
Optimize content for your most popular items
- Ensure you are including keywords and search terms on your product detail page (PDP) to increase SOV. Noogata’s Perfect Content block analyzes each of your PDPs’ title, description and about sections and makes recommendations by applying information on keywords and phrases.
Analyze your pricing approach
- One of the most important parts of Prime Day for consumers is finding a good deal so taking a second look at your pricing approach may help drive more sales. While deals are a big part of Prime Day, you still have to account for competitors who may have a more attractive price for your customers which can cause you to lose out on sales. It’s highly recommended that you check for all the competitors in your space and see how they are positioning themselves against your products. Because this can be a very time consuming process, Noogata developed our Competitive Landscape and Product Enrichment blocks that finds competitors for each of your products based on similarity and SOV, but also automates collection of data on them. This means you can get pricing but also see any discounts they might be offering.
By focusing on these strategies, sellers can position themselves for success for one of the most important days of the year on Amazon. If you’d like help on any of these strategies, feel free to reach out to Noogata today for a personalized demo of our eCommerce impact library.